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NJ S929
Bill
Status
1/9/2024
Primary Sponsor
Kristin Corrado
Click for details
AI Summary
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Public and private colleges in New Jersey must inform students with federal student loan debt about the Public Service Loan Forgiveness (PSLF) program during their second-to-last semester and when they apply to graduate
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Government employers qualifying under PSLF must provide all employees with program information during initial benefits orientation and at least once annually thereafter
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Required information must include PSLF eligibility requirements: qualifying employer, minimum 30 hours/week or full-time status, Direct Loan balance, eligible repayment plan enrollment, and 120 qualifying monthly payments
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Government employers must also provide any employer-specific information employees need to complete the PSLF application
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The Secretary of Higher Education and Commissioner of Labor and Workforce Development will create model formats for the required notices, with employer provisions taking effect 90 days after enactment
Legislative Description
Requires institutions of higher education and government employers to provide certain students and employees with information about Public Service Loan Forgiveness program.
Education
Last Action
Introduced in the Senate, Referred to Senate Education Committee
1/9/2024